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Envictus group CEO Khor Sin Kok resigns
ENVICTUS International Holdings on Tuesday said its group chief executive officer (CEO) Khor Sin Kok will resign on Oct 1 following the expiry of his leave of absence on Sept 30.
Acting group CEO Kamal YP Tan will be redesignated to group CEO from Oct 1, said the group in a regulatory filing.
Mah Weng Choong will separately be redesignated from independent non-executive director to non-independent non-executive director from Oct 1.
The group said the reason for the redesignation is due to the total consultancy fee of RM211,000 (S$70,000) received by Mr Mah for the financial year ending Sept 30, 2020 from Motivage Sdn Bhd, a wholly-owned subsidiary of Envictus.
The amount, which is in excess of S$50,000, is deemed significant for purpose of determining the director's independence in accordance with the Code of Corporate Governance 2018, said the group.
Envictus shares tumbled 2.4 Singapore cents or 19.7 per cent to close at 9.8 Singapore cents on Tuesday.